US stock futures gained in early pre-market trading, ahead of economic data. The Challenger job-cut report for February will be released at 7:30 a.m. ET. Data on weekly jobless claims and nonfarm business productivity for the fourth quarter will be released at 8:30 a.m. ET. Data on factory orders for January will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average gained 21 points to 16,376.00, while the Standard & Poor's 500 index futures rose 2.10 points to 1,874.50. Futures for the Nasdaq 100 index surged 2.50 points to 3,730.75.

Analysts at Morgan Stanley downgraded Auxilium Pharmaceuticals (NASDAQ: AUXL) from “equal-weight” to “underweight.” The price target for Auxilium Pharmaceuticals is set to $15.

Auxilium's shares closed at $31.93 yesterday.

Breaking news

Costco Wholesale (NASDAQ: COST) reported a 15% drop in its fiscal second-quarter profit. Costco's quarterly profit fell to $463 million, or $1.05 per share, versus a year-ago profit of $547 million, or $1.24 per share. To read the full news, click here.

Logitech International (NASDAQ: LOGI) today announced that its board of directors has approved a new share buyback program, which authorizes the Company to invest up to $250 million to purchase its own shares, subject to the approval of the Swiss Takeover Board. To read the full news, click here.

Russian company Vimpelcom (NASDAQ: VIP) reported a net loss in the fourth quarter. Vimpelcom posted a quarterly net loss of $2.7 billion, versus a year-ago profit of $195 million. To read the full news, click here.

Staples (NASDAQ: SPLS) reported weaker-than-expected fiscal fourth-quarter earnings and announced its plans to close 225 stores by 2015. To read the full news, click here.